Rent expense as shown on the income statement is $ 120,000, while cash paid for rent is shown on the statement of cash flows at $ 135,000. Did prepaid rent increase or decrease during the period? By what amount?
Answer to relevant QuestionsAccounts payable for services decreased $ 67,000 during the year. The statement of cash flows indicates that cash paid for services was $ 568,000. What was the amount of the related expense shown on the income statement? Does the amount shown on the statement of retained earnings always equal the amount shown on the statement of cash flows for dividends? Why or why not? Lawrence Products had a beginning balance in Furniture and Fixtures, net of depreciation, of $ 192,000. The ending balance in that account was $ 196,500. Depreciation expense for that period was $ 20,000, and there were no ...M. Potter is the manager of Masson Company. Potter receives an annual salary plus a bonus of 15 per-cent of net income before bonus and taxes. Masson Company uses the LIFO inventory costing method. During 2010 when prices ...If you know a company has a current ratio of 2 to 1, why is that not enough information to judge its liquidity?
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